Official: Paramount buys Warner Bros. Discovery for $110 billion — this is the largest deal in the entertainment industry
The history of the sale of Warner Bros. Discovery finally comes to an end. As we have already reported, Netflix refused the deal as WBD's management and shareholders decided to accept a significantly more generous offer from Paramount Skydance, which was initially the most interested in the merger. Netflix, although it could have raised its bid, did not do so, and now we can state: Paramount will get Warner Bros.' studio and streaming business.
What is known
The signing of the deal was announced by Warner Bros.' Chief Revenue and Strategy Officer Bruce Campbell. The deal is valued at an impressive $110 billion, a record for the entertainment industry. The amount is based on a rate of $31 per share, while Netflix offered $27.75.
Thus, Paramount Skydance will become the owner of rights to mega-popular franchises such as Harry Potter, DC Comics Universe, The Matrix, Mad Max, Scooby-Doo, The Lord of the Rings, and Game of Thrones, as well as the HBO channel and the HBO Max streaming service.
The deal also includes the Warner Bros. Games division, which includes studios such as NetherRealm, Rocksteady, TT Games, Avalanche Software, and others known for games like the Mortal Kombat series, Injustice, Batman: Arkham, LEGO games, and Hogwarts Legacy.
Now the merger needs to be approved by US antitrust authorities.
Source: Reuters
